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Aug 1, 2013 6:00am EDT
painful constraints to come as we have seen in europe and detroit last week? >> you know, you find this all very well, bill. i think it's so important, as tommy said, to put things in context. when i go back to those years, it was an extraordinary time in american fiscal history. i will never forget being called to an emergency meeting in the fall of 2008 to the majority leader's office. i was the last to arrive because i didn't chairing a meeting on energy and another part of the capitol complex. and i walked in, and there were maybe 16, 17 people in the room, leaders of the house and senate, republicans and democrats. the chairman of the federal reserve and the sector of the treasure of the bush administration. and it was about 6:00 in the evening. they actually posted a guard at the door and close the door. it was very unusual, as you know. and i knew something dramatic was afoot. and i sat down, and the meeting began. secretary of the treasure in the chairman of the federal reserve told us they were taking over aig, the large insurance company the next day if they made very cle
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